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Fund Accounting & Administration, VP

Company: State Street.
Location: Atlanta
Posted on: August 3, 2020

Job Description:

The Fund Controller Group (FCG) is responsible for the compilation, analysis and reporting of performance investment data for global private equity and real assets funds and affiliated funds. The FC Group is part of the Real Assets Fund Administration Services team within the State Street Global Services' Alternative Investment Solutions division. The department is located in the Atlanta office. The FC Group is responsible for providing our clients and their investors with annual and quarterly financial reports, management, acquisition and other fee calculations, investor capital notices, fund, investor, and investment return calculations as well as various other investor reports requested. The team has an in-depth knowledge of the various fund structures, investor LP agreements, financial reporting, investment make-up, and investor base of our clients' funds. This subject matter expertise is utilized to provide customized reporting and response to inquiries from our clients and their investors. FCG is responsible for preparing and analyzing key statistical data used in both client management and investor reporting. Types of reporting include:

  • Executive Management Reports & Analysis
  • Annual and Quarterly Financials
  • Pro Forma and Budgeted Financials
  • Ad Hoc Investor-Specific Reports and Analysis
  • Management Fee and Acquisition Fee Calculations and Letters
  • Funding and Investment Contribution/Distribution Notices
  • Foreign Currency Exchange Transactions and Cash Management Transactions
  • Investor/Consultant Reporting FCG is part of a growing and innovative group within State Street. Third party administration, while standard practice in the PE/Hedge industry, is just taking off in the real estate industry. Through continuous interaction with client executive management and the IT department, our goal is to develop systems and business processes to prepare and fund administration services in an accurate, quality, and timely manner. FCG is very process-driven to ensure the highest quality in our performance reporting; however we operate in an extremely dynamic environment. We work under tight deadlines, and we strive on our ability to work in a team environment. We prepare quarterly and annual financials, management, incentive, acquisition and other fee calculations (ensuring they are in accordance with various legal agreements and investment contracts). Calculate fund and investor returns as well as projected investor cash flows. We respond to various ad hoc requests from client senior management, investors, and consultants and also prepare investor capital call and distribution notices. In this capacity, FCs have high exposure to current issues affecting the real estate funds and investors. Job Description: This is a senior level management role within the Real Estate Fund Services Business Unit of the State Street Alternative Investment Solutions Group. The position interacts with all levels of professionals both internally and externally and with senior level executives of State Street. Therefore, exceptional interpersonal and communication skills are required. Candidates must demonstrate strong initiative, be able to perform well under pressure and be capable of managing multiple and diverse assignments. The position is responsible for managing departments experiencing significant growth. Responsibilities include but are not limited to:
    • Provide overall direction to reporting line managers and staff to assure synchronized teamwork that accomplishes yearly and quarterly financial and operational goals and objectives.
    • Responsible for development and execution of overall business plans both internally and in partnership with clients.
    • Manage relationships with clients at appropriate levels to ensure continued confidence in State Street.
    • Manage relationships with key client contacts ensuring expectations are met and client satisfaction with the level of service received.
    • Ensure process and procedures are adequate to meet quality standards and are consistently applied and regularly reviewed within department.
    • Responsible for the direction and training of reporting line managers and staff. Address employee concerns.
    • Review and approve all transactions (money movement; trades; etc.) in accordance with established guidelines.
    • Provide support for and effectively communicate broad overall company initiatives and goals to managers and staff within span of control.
    • Responsible for developing department budget and staffing projections. Completes staffing proposals for newly awarded business.
    • Monitors and approves department expenses.
    • Assess operational effectiveness and make suggestions to streamline functions.
    • Develop ideas for new products and services to expand business opportunities and better meet client needs.
    • Participates in new business process including review of proposals, prospect presentations, staffing allocations, etc.
    • Represent the organization internally and externally as a senior level executive of State Street.
    • Meet all requirements for the performance planning process including goal setting, regular and immediate feedback and submission of formalized performance appraisals.
    • Allocates and coordinates resources including staff allocation, space and procurement of necessary equipment.
    • Spearhead special projects and serve on committees and task force assignments.
    • Provide leadership in areas outside of the division. During the course of normal day to day operation, be responsible for identifying any unusual or potentially suspicious transaction activity and must report and/or escalate in accordance with corporate policy and guidelines detailed in relevant operating procedures. Minimum Qualifications:
      • Bachelor's degree required with preference for Accounting majors
      • 15 or more years of previous accounting and/or financial service operations experience, including 3+ years of managerial experience with large teams.
      • Financial reporting experience required.
      • Advanced Excel skills (advanced formulas, pivot tables, vlookup) Preferred Qualifications
        • Relevant experience in the real estate industry is a plus.
        • Working knowledge of MRI, Oracle Financials, Yardi, or Investran is a plus.
        • CPA or CPA candidate preferred.
        • MBA preferred. For further information, and to apply, please visit our website via the "Apply" button below.

Keywords: State Street., Atlanta , Fund Accounting & Administration, VP, Accounting, Auditing , Atlanta, Georgia

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